The Clement Canopy is located at Clementi Avenue 1, was bought by a consortium comprising UOL Venture Investments and Singland Homes. The Purchase price of S$302.1 million is translated to about S$6,620.21 per sqm. The land size is about 140,339 sq ft and can yield a maximum Gross Floor Area of 491,185 sq ft, or an estimated 500 housing units. Estimated breakeven prices for the residential space in this new condominium to be developed on the site is range from S$1,100 psf to S$1,150 psf.
According to Mr Liam Wee Sin, deputy group chief executive officer of UOL, he mentioned that the project should attract both home buyers and upgraders. Two 40-storey towers with about 500 units in all, capitalising on the extensive views to the south, are planned for the site.
Clement Canopy is conveniently linked to Ayer Rajah Expressway and Clementi Road, providing easy access to the city centre and the Jurong Lake District for residents. Jurong Lake District, which is about 5 minutes drive away is the up and coming 2nd Central Business District(CBD) in Singapore.
Developer of Clement Canopy
UOL is one of Singapore’s leading public-listed property companies, their list of property development projects includes residential, office towers and shopping malls, hotels and serviced suites. It was formally called Faber Union Ltd and incorporated in 1963 as a subsidiary of Faber Union (HK) Ltd. In mid-1973, United Overseas Bank Ltd acquired a controlling interest in the Company and changes it name to United Overseas Land Limited (UOL).
Singapore Land Limited (SingLand) was incorporated in 1963 as the first public listed property company. It is one of Singapore’s largest property players, with premier property developments in both prime and suburban locations. In 1990, the Company was taken over by UIC Limited. In August 2014, Singapore Land Limited was delisted from the Singapore Stock Exchange remains a public non-listed company.
Residents of this Clementi New Launch will have easy access to many educational institutions such as Nan Hua High School, Nan Hua Primary School, Clementi Town Secondary School, NUS High School of Mathematics and Science, Pei Tong Primary School, International Community School, Clementi Woods Secondary School , Ngee Ann Polytechnic and Singapore Polytechnic and National University of Singapore(NUS).
Residents can also enjoy recreational facilities at Clementi Sports Hall, which is within walking distance. Clementi Hawker Centre and Clementi Mall is just minutes walk away. Residents will also have easy access to retail and leisure amenities in the nearby Jurong Lake District, which is just one station away from Clementi MRT station.
Over at the Jurong East Station,which is just 8 mins drive away, there is many shopping malls such as GEM, Westgate, Jcube, IMM and Big Box. Beside National University Hospital which is round the corner, there is also 2 other big medical centres, Ng Teng Fong General Hospital and Jurong Community Hospital at Jurong East.
West Coast Park
West Coast Park, Themed as the “Play Centre in the West”, is a large regional park is only 3 minutes drive. A linear park comprising 50 hectares of park land, the park runs parallel to West Coast Highway. Over at the park, there is The Adventure Playground which comprises eight play sets and obstacle courses. This will definitely be a hit with children, teenagers and parents alike! If you like cooking your own food and eating in the great outdoors? You can hold a barbeque at West Coast Park. There are some 9 BBQ pits located Area 2.
The Clement Canopy will likely be launching in early 2017, more info will be released at a later date. If you would like to know more about this new development, please fill up the form below and we will furnish you with the details once it is released out.